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HIP changes - 6th April
April HIP changes – how they affect you
More changes to the HIP legislation will come into effect on April 6th. The changes have important implications for the marketing of residential properties.
What are the changes?
- The temporary first day marketing exemption will be removed, which means that a HIP must be available on the first day a property is marketed. Prior to marketing, the Pack must contain;
- Index
- EPC
- Sale Statement
- Evidence of Title
- Property Information Questionnaire - A Property Information Questionnaire (PIQ) - completed by the seller - must be included in the HIP (view a sample PIQ)
- The end of the use of insurance in personal searches to cover missing data.
The temporary first day marketing exemption will be removed, which means that a HIP must be available on the first day a property is marketed. Prior to marketing, the Pack must contain;- Index- EPC- Sale Statement- Evidence of Title- Property Information Questionnaire If you do not have these documents in place on behalf of the home seller at the time the property is marketed, you will be liable for a fine of up to £200 per day.
How will your current HIP processes be affected?
The biggest change will be ensuring vendors complete their PIQ. We will provide our agents with the following options to assist vendors in completing this document:
Online link to PIQ – emailed to vendor at the time the HIP is ordered. The vendor completes this online.
Hard copy of PIQ – for your agents DEA to give to you at the point of listing. Once completed, these will need to be returned to the agent for them to scan and upload to the movewithus Members Area. Ask your agent for a copy if required.
*Once the relevant documents are complete, you will receive an email informing you that the property can be marketed.*
Please note: – from the 6th April, search companies will no longer be able to insure against missing information for the purpose of inclusion in a HIP. It is therefore expected that the cost of obtaining a search will increase.
We are here to help you through this change. Should you require any assistance please contact the movewithus HIP team:
email: hip@movewithus.co.uk
tel: 01480 409582